I was in Melbourne just 2 months ago. It was my 4th time visiting an Australian city (besides Perth and Sydney earlier) and I have to say that it lives up to its tag of the world’s Most Liveable city awarded by the Economic Intelligence Unit (EIU) for the past 7years. (2011 – 2017). My wife says the public transport is friendly and the city is clean, even when we were walking past construction sites! For me, safety is extremely important. While I did not see that many police officers, I felt safe even when walking from the hotel to the local Woolworths at 10pm at night. Do not be surprised yeah, some of these supermarket chains are open till midnight! So, it’s not entirely true that after 5pm, no shops are open. 😛
Beyond just the city, there were many attractions outside the city such as Yarra Valley, The Great Ocean Road, Philip Island and more. Yes, my whole family of 12 people enjoyed all these trips. So, all in all Melbourne city is definitely a great place for tourists. Statistics wise, Melbourne receives the most number of international tourists among Australian cities and international tourist have pumped A$42.3 billion into the Australian economy over the past year. This is an extremely significant number because the more tourists would mean more demand for services which in turns drives up job numbers and subsequently the demand for housing.
Resimax Group and Resimax Malaysia is a privately-owned property developer based in Australia. I had a chat with their partner and director, Ken Dodds, who said, buyers must look at 6 major reasons when they are buying a property. All these are key reasons available in Melbourne.
A vibrant job market ensures the demand for housing continues to grow. The one major reason for demand of services would be population growth. According to the Australian Bureau of Statistics, Australia’s population has hit the 25 million mark. If we look at new permanent arrivals into Australia, 90 percent are concentrated into Melbourne and Sydney. (Source: Department of Home Affairs) This augurs well for the Melbourne property market for which the median property price is still much lower than Sydney.
Cost of living / Housing affordability is another key measurement we should use. Whenever I shop in those supermarket chains, I do realize that salary earners in Melbourne would be able to afford more things than me in Malaysia. Perhaps this is one advantage of having a stronger currency. Where the housing is concerned, if we are comparing the top two cities most favoured by new permanent arrivals, Melbourne’s median price has a gap of 30 percent with Sydney’s.
Healthcare is another important factor. We need good care from specialists when we fall sick. The quality of healthcare services in Australia is second to none. I still remember most of my friends who study medicine would usually be in University of Melbourne.
Beyond just these, there’s also the infrastructure for which Melbourne is well known. Public transport wise, Melbourne has trains, trams and buses and for those times that I have taken them, they were all on time. Yes, the coaches are also clean too. It’s either cleaners are working harder or perhaps it’s the commuters themselves. Travelling to those tourist spots are seamless and the expressways are well established too. Roads even in smaller towns are without potholes!
Australia is the 3rd most favoured destination of international students but by the end of 2018, it may already be the second most favoured. This was based on a study by Centre for Global Higher Education at the UCL Institute of Education, University College, London. With this growth continuing and Melbourne being a favourite city for the students, the demand for property is likely to continue.
For those who are thinking of making Melbourne a home or even for potential overseas property investment, always ask lots of questions before deciding. Here’s one event brought to you by Resimax Malaysia:
To learn more about property investment and Melbourne’s future property growth, you must attend Property Power- a FREE half-day purely educational workshop hosted by Resimax Malaysia. Resimax Malaysia is a part of Resimax Group- one of Australia’s largest private property developers. At the seminar, these are the TOP 4 things you will learn:
- What’s going on with Melbourne’s property market
- how to invest with minimal risk and achieve high rental yields
- how to acquire a property without large deposits,
- what does the future hold for Melbourne property investors.
To find out and register for free, click here. Property-Power by Resimax
Feel free to get in touch with them too:
RESIMAX MALAYSIA SDN BHD,
UNIT 29-1, LEVEL 29, TOWER A,
VERTICAL BUSINESS SUITE
AVENUE 3, BANGSAR SOUTH,
NO. 8, JALAN KERINCHI,
59200 KUALA LUMPUR.
TEL: 03-27839678 / 017-2233965 (Mobile No.)